New Polish Devaluation

Reuters

Published: May 10, 1989

WARSAW, May 9—
Poland devalued its currency, the zloty, Monday for the fifth time this year, reducing its value by 4.23 percent, according to new exchange rates published by the official press agency P.A.P. There were three devaluations last month, the most recent on April 24. The new official rate, which applies only to foreign tourists and foreign trade dealings, is 710 zloties to the dollar, compared with 680 on Friday. The zloty has been devalued by almost 30 percent since Jan. 1, when the rate was 503 to the dollar.